SEOUL, Aug. 28 (Korea Bizwire) — Samsung Electronics Vice Chairman Lee Jae-yong filed for an appeal Monday, three days after a court sentenced him to five years in jail for bribery, embezzlement and other charges in a corruption case that led to the ouster of former President Park Geun-hye. His attorney, Kim Jong-hoon, submitted the [...]
SEOUL, Aug. 28 (Korea Bizwire) – Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. aftera Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday. Foreign investors who collectively hold more than 50 percent stake in the world’s largest smartphone manufacturer may demand the company’s board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to [...]
SEOUL, Aug. 25 (Korea Bizwire) – A lower court in Seoul sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of former President Park Geun-hye. The Seoul Central District Court handed down [...]
SEOUL, Aug. 23 (Korea Bizwire) – The Seoul Central District Court decided Wednesday not to allow the upcoming sentencing hearing for Samsung Electronics Vice Chairman Lee Jae-yong to be televised live, saying the move could unfairly hurt the interests of defendants. The court also decided not to permit the taking of still photos during Friday’s [...]
SEOUL, Aug. 21 (Korea Bizwire) — Crucial decision-making at global tech firm Samsung Electronics Co. has been pushed back since its de facto leader Lee Jae-yong was imprisoned in February, industry sources said Monday. According to the sources, Samsung held fewer in-house strategy meetings in the second quarter compared with the year earlier period. The [...]
SEOUL, Aug. 9 (Korea Bizwire) — One would think that the looming possibility of a double digit prison sentence would have the plaintiff arguing for one’s innocence. Instead, in what may well be the darkest hour of his life, Lee Jae Yong is pouring his heart out trying to convince people that he’s not a bad [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s top conglomerate Samsung Group appears unlikely to hold any high-profile events this week to mark the anniversary of a landmark declaration of reform as its leader has been in jail over a corruption scandal that led to the ouster of former President Park Geun-hye. On June 7, [...]
SEOUL, Apr. 28 (Korea Bizwire) — Samsung Electronics Co. said Thursday it will scrap plans to adopt a holding company structure. The tech giant said through a regulatory filing in November that it will seek a change in the management structure, which includes splitting itself into a holding company and an operating company to boost [...]
SEOUL, Mar. 15 (Korea Bizwire) — South Korea’s major business groups face another round of investigations for their alleged involvement in the bribery scandal that led to the impeachment of President Park Geun-hye, industry and legal sources said Tuesday.Prosecutors at the Seoul Central District Prosecutors’ Office took over the bribery case late last month when [...]
SEOUL, March 14 (Korea Bizwire) – Samsung Electronics Co. has been considering whether to transition into a holding company structure, regardless of the leadership vacuum caused by the detention of its de facto chief, Lee Jae-yong, a senior company executive said Tuesday. Samsung announced last November that it will review a possible switch to a [...]